Extracts from the common press conference EC/ECB/IMF (Troika)
István Pal Székely, Director of the Directorate H - Economies of the Member States III of the Economic and Financial Affairs DG of the EC, and Craig Beaumont, Mission Chief for Ireland, European Department, International Monetary Fund (IMF), visited Dublin during 10-19 January 2012 for the regular quarterly review of the government’s economic programme. They gave a press conference following the 5th review of the EU/IMF Programme for Ireland on 19 January 2012 in Dublin.
The teams’ assessment was that the programme was on track but challenges remained and continued steadfast policy implementation would be key. The EC and IMF missions would seek approval for the completion of this review from the relevant EU bodies and the IMF Executive Board respectively.
The highlights of the fifth review of the EU/IMF Programme for Ireland were that: the Programme implementation remained strong. The substantial fiscal consolidation targeted for 2011 had been achieved with a margin. Major progress in strengthening and downsizing the banking system was made in 2011. Steps to support growth and job creation were being put in place. Looking ahead, nonetheless, Ireland continued to face considerable challenges.